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Gas prices are way down, debt service costs are low, and wages are up. The money will be spent. No recession this year, guys.
p!
What a crock! Wages are not up at all. 1 in 2 working Americans make less < $30K a year. Look it up!
As for retail, as someone who has an inside perspective, retailers are most definitely struggling. They are offering HUGE discounts and sale after sale just to make comps. We are just beginning to see the ripple effects of Chinese economy tanking, commodities crashing, oil glut and low oil prices etc. Places like ND, Alberta, etc. are just starting to see the effects of record low oil prices. All the capital and debt that flowed into domestic gas and oil exploration and production didn't happen overnight and its effects will be felt for the next couple of years.
Combine that with a potential major war in Syria between NATO/Turkey/Saudis vs Russia and we have a recipe for disaster.
First Wal-Mart, then Nordstrom, and now Macy's. As more retailers reveal their fourth quarter 2015 sales and 2016 outlooks, it's getting harder to identify pockets of strength in consumer spending.
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These headlines, along with a series of less-than-stellar projections for retail sales growth, come as Wall Street analysts contemplate whether the U.S. economy is gearing up for another recession.
The article then shows a nice chart of the various categories and dollar amounts that comprise consumer spending.
Especially interesting is health care. Why that should be classified as "consumer spending" is anyone's guess...
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,576 posts, read 81,167,557 times
Reputation: 57813
Quote:
Originally Posted by J.Thomas
This is happening for a reason.
People are scared to make big decisions like starting a business, big spending, home buying, marriage...etc.
Still depends very much on the area you are in. Here homes are selling in a few days with multiple offers over asking price for anything under about $800,000, high-end cars are jumping off the lots, and new businesses are popping up all over the place.
Still depends very much on the area you are in. Here homes are selling in a few days with multiple offers over asking price for anything under about $800,000, high-end cars are jumping off the lots, and new businesses are popping up all over the place.
I'm gonna throw up if i hear another example from SF Bay Area
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